they are looking at the telecom story. telefonica is up and telecom italia is bucking the equity market trend. i know that you are waiting for something and tell you that the have bought some bonds. i know it will happen and will be from a german player. there you go. it is in negative territory. do not worry. it is still there. have a look. that is one of the most interesting currencies at the moment. the have the strongest element. have had enough to provoke a response? the cap is 120 and the swiss do not like anyone messing with the timing. keep an eye on that. >> waiting to see someone who has bought german bonds. the chief investment officer and nearly $1 trillion in assets. i will not ask you if you have been buying german debt. i will bring you spanish data and gdp coming in as expected. the cpi is less than expected and deflation is still a big concern. let's look at the equity market. it feels like last year. two big weeks for european equities. i'm not expecting a correction. what are we looking for with minimal

it is about the fight for brazil 's telefonica and telecom italia -- vivendi, telefonica and telecomelecom italia putting in a 7 billion euro offer. the board of vivendi, the owner of gvt, which everyone a squabble and over, will decide. telefonica has only given them one day. the 29th of august is when their offer expires. all eyes are on the offer and all eyes around vivendi earnings. >>is going to get more and more interesting, i suspect. carolyn, thank you. john, the last few minutes. the record euro low. the united states treasury. gdp is on the agenda as well. u.s. gdp. >> it is. it is looking to take down -- tick down. my focus is in france, it really is. it is huge. the comments from mario draghi. >> what is he going to do about mario draghi? >> he has come out already to talk about the fiscal side of things. it is going to be very, very interesting. withme sort of way to deal things in the euro area. the french parliament. >> everybody is teething up. >> yes. mood music. not exactly ready for change yet. the german economy is slowing down as well. the low yields already refl

to spend some 7 billion euros, telecom italia. telecom italia fall about 1% this morning. also, keep an eye on united internet. this is a german company. it has just taken a hefty stake, about 10.7% in rocket internet. this is a bet on the emerging markets story. remember what rocket internet do, they take tried and tested business models, the likes of uber, and they copy them in emerging markets. frontiers that haven't yet been taken on by startups. they take the risk in taking it to a new country, trying to double with a new base of user who isn't quite as savvy on the internet side of things. it is fascinating, what rocket is doing. it is all ahead of an initial share sale. rocket internet is lining up to sell shares later this year. they want to be valued at about 5 billion euros. what the united internet value them at? currently about 4.3 billion euros. --y snapped up a $.10 stake a 10% stake for 45 million euros. we are getting there. slowly but surely, we are seeing rocket go up and up. already, we saw a philippines company

we are talking telecoms all italia and telecom telefonica. the deal and we show the cards on the table. had we dig into what looks the best. the competition in france is hot . they cut the forecast and i will be back later in the show. videos areusiness gathering for the second day and it has been a busy week for france. the prime minister spoke here and received a standing ovation from business executives in france. some compared him to tony blair and i will tell you more about this in a moment. >> is that a good thing? you can take a view on that. a lowerres indicated open and the dax is down. the footsie is lower after take weeks in the european equity markets. the man with the open is manus cranny. >> equity markets are taking a breather. that is what we saw yesterday on the one-month high.

coming up, the potential telecom battle.he industry's biggest players are battling for brazil of all places. that is next. ♪ >> welcome back to "on the move ." let's bring you up to speed. shares of china mobile raised to the highest in six years after say it would cut $2 billions from phone subsidies this year. this could raise prices of apple and samsung phones. coca cola has agreed to buy 70% stake in monster beverage for just over $2 billion. the move is the sign of coke increasing its bet on the energy drink market. chiquita said it will continue with the plan to purchase an irish competitor. the deal would create the largest banana company in the world and cut chiquita's tax bill by relocating its headquarters to ireland. the battle for vivendi's brazilian assets is heating up. a is getting ready to offer. will it trump telefonica's bid? look, we will, give you a tie up with our own brazilian unit and also offer you some key content outreach into italy. this is what could would away from telefonica. saying, let's get i

it is really getting down and dirty between telecom of spain, the dominant telecom player, and telecomrge stake in telecom italia. a both want to get into brazil because it is the fastest-growing country for people getting on the internet. spain and italy, it is sluggish. goose, its the golden has the brazilian asset which telefonica has said 27 billion euros for this. >> they knew that telecom italia and vivendi were talking. >> they were already chatting. the chief executives were already sitting down with the chairman of vivendi saying, look, i have interest. they have expressed interest months ago. telefonica got there first, made debate in public, but now this is brewing behind the scenes. they are swaying -- they are saying i will swap assets, remember they make their own content. this is a way that vivendi can canss italy, telecom italia access brazil. it could be that much more attractive than the spanish juggernaut getting in on brazil. we will have to see. it is a question of price and regulation. brazil overall does not want to have less players. >> ryan? >> the russian conv

now it is shaping up into a big week for telecoms.nly our earnings for vivendi out on thursday, but the race for its brazilian broadband heating up. telefonica and telecom italia telecometing with italia considering an offer of 7 billion euros. joining us now is roderigo to tell us more. thanks for joining us. why are these companies fighting ? what is so exciting about it? companies, brazil is a huge deal. it is their second market. the possibility of a higher presence in the fixed line sector, which neither of them are big on. brazil is a big market for them and it is a huge margin market. that is why they are trying to snatch this company. >> what do we expect next in this battle? telefonica has declared its hand. we have yet to hear what telecom italia has to put on the table. >> that is the biggest question mark everyone has. the biggest thing we have to wait for is the position. the last thing vivendi says was that they do not want to sell gvt. telefonica came with this offer and now telecom is discussing bears. we have to see w

nobody would be able to break up telecom italia.one player disappear. >> let's hear your view on it. they wanted to get out of telecom. >> the short question is do they have enough. yes they are paying a lot more cash compared. they are trying to they have afact stake in a telecom asset. they have reasons to keep it. they believe that big is going to help them -- that stake is going to help them so the operator has a large customer base over latin america. >> where does this leave what is it going to be -- if i buy vivendi now, am i buying pure media play? the best in that industry to mark -- toreston latch onto? >> you by a peer media layer. all of them are fairly mature. player --a peer media buy a pure media player. they are promising to return cash to investors to some extent, and also they are promised to build in new markets. whereexample is french-speaking content is. that is an area of growth for vivendi. >> thank you for joining us. we will take a break. 7:26 in london. >> we are going -- ceo with this eeo about incentivize

telecom italia, are they in discussions? the smallest brazilian wireless carrier, we understand that they are in talks to acquire telecom italia was stake in tim. telecom italia holds about 67% of that. what is going on with telefonica and vivendi? storing up the pockets for potentially a bit. lufthansa, they are talking to the pilots. the pilots have threatened to go on strike on august 28. the big issues, bridge payments. bridging payment until they are able to take up their pension. bottom line is, discussions are underway and that is bucking the market trend today. lufthansa and telecom italia. back to you. >> thank you very much. three top headlines from bloomberg this morning. global equities have reached a record value of $66 trillion. shares worldwide have added more than $2.2 trillion in the last weeks. investors are looking past conflicts and renewing bets that stimulus will revive growth. russian president vladimir putin is in talks with his ukrainian counterpart. he met with petro poroshenko in minsk as part of t

telecom italia is offering a little bit more. will offer room into the italian market, content is king with vivendi. they have been selling off. they are looking at where can they expand the content they are making. telecom italia is saying i am offering you italy. cozyps that is making them and a little bit more attractive. brazil wants more competitors, not less. >> the regulatory question comes up. >> we have telefonica and telecom italia saying we are married together the net makes less competition rather than more. perhaps it will be a bitter pill for brazil to swallow. 6.7 billion euros being offered by telefonica. we want to see what kind of engagement ring telecom italia comes up with. >> putin's pipedream. the plan to go they new pipeline that bypasses ukraine. after the break. ♪ >> welcome back to "the pulse." typically something of a haven in times of trouble. it is heading for a decline against the dollar. damped investor demand. that is playing into they call you have to make in the markets. boj officials are conside

the parent company deutsche telecom jumps at the open. display you're watching "worldwide exchange," bringing you business news from around the globe. good morning. welcome. it has been a busy morning. so far, some of the steepest boards in spain, portugal and switzerland. you can see still sharply lower, about 0.6% off the major markets. the ftse mib off 0.3%. french, italian and german pmis suggesting a fall from the june level right across the charts. but it were a trace on the manufacturing side. to the u.s. markets, it was a choppy session statewide. the argentinean default. you had concerns around geopolitical tensions, still with fresh sanctions and then the ripple effects across markets. earnings weren't particularly strong, either. we saw the s&p, the dow and the nasdaq around n session and a jump in the vix as a result. the vix up 23%. on the data front, interesting to note, u.s. labor costs according to their biggest gain in more than 4 1/2 years in the second quarter. a little bit of sign of wage pressure starting to creep int

then you have telecom italia. they preparing to up their offer for the brazilian assets of vivendi? we know both of these heads of the companies had substantial discussions. would personal relationship trump the financial offer? you see german government booms just inching past the one percent level. you are seeing a slight turn around in terms of german government boom. peripheral italian government bond yields two percent. the differentiation between germany and the u.s. is set to expand further. >> a higher open this morning. if you look at the ftse, it is close. the dax is up i 1.3%. record yields in spain and italy. some of with the chief bank.ment officer of the he joins us live from europe. simon, good morning. you are looking at a market moves this morning. they are quite significant. i am guessing mario draghi is taking the headlines post jackson hole. forhis a man who is waiting qe to come? >> it is interesting. he was making the obvious observation we have seen inflationary trends continue and bond yiel

and a move some are calling censorship a new report claims the telecom giant forced an article to be taken offline because it was critical of a controversial subject of net neutrality more on that later in the show. it's wednesday august sixth five pm in washington d.c. i'm amir a david and you're watching r.t. america. it's been a day of reflection after a two star general became the highest ranking u.s. official to be killed in either of america's post nine eleven wars fifty five year old harold green was one of the army's gadget gurus an engineer by trade whose goal was to integrate digital technology in a way that would improve military operations greene was killed yesterday when a gunman believed to be an afghan soldier opened fire and a military academy near kabul afghanistan more than a dozen other soldiers were injured including eight americans it was among the most damaging insider attacks since the war in afghanistan again. a power grab is underway in iraq as this law make insurgents continue in their fight not only for land and supporters but also for the country's most va

offers. >> manuella, the trouble is telecom italia can't even afford that deal.be val enhancing for shareholders, would it? >> well, it's a hard -- it's surely telecom italian has cash problems and they have a huge debt that they have to keep that in mind, of course. and that is why they want a capital increase and that will be reserve for vivendi in order for vivendi to get a stake in the company. they are trying to get other ways to become interesting in vivendi. >> do you think there is a chance that neither of the bids could bear fruit? >> there are some good options. some people were suggesting that this opened the gains and some more bids could even arrive and this could become even a hotter game with a better and high yield data to come. vivendi now just has to weigh and see what happens and then decide what to do. but they definitely are looking into these options which is interesting. that goes without saying, even though vivendi has quite a lot of cash. so they're now in a position in which they need cash. but still, good offers are, you know, to be con

more news out of the telecom sector. telecom italia seeking a deal with vivendi. european business correspondent caroline hyde has more. another deal on the horizon? >> interesting one. a bit of a tussle over who ozies up with vivendi. it appears that telecom italia at the current time is pursuing an alliance with vivendi. it could mean they end up taking a big stake in the italian carrier. how they will take that stake is either in exchange. remember that brazilian unit telefonica has its eye on, g.d.p., will it overall not take a stake, and telefonica italia take cash or raise funds itself. we understand that the chief executive and vivendi chairman have been chatting about all of this. all the time, telefonica has put out a bid for g.b.t., the brazilian unit. that is where internet presence is growing. that is why telefonica italia is working to potentially cozy up. why do they want in with vive endi? it wants its content. it wants to be able to keep on growing in italy. it also wants to get in with brazil as well. why does vive endy want anything with -- vive

we're joined by a european telecoms analyst. have here is vivendi talking exclusively to it fonica about the sale of bu but that it is not for sale but everyone knows it really is. they want to get out of telecoms and want to focus on selling music and focus on content. telefonica is much bigger than telecom italia. >> was that offer real? some talked about the fact that it may have been a ploy to flush out the higher bidder. >> i think it was real. however, telecom italia -- in terms of debt that telefonica has not. for vivendi it was more cash. i think the offer was real from telecom italia. >> how quickly do you think this will be done? >> regulatory? i don't think so so much. probably probably next year. with all the clearance from regulators. >> in terms of where this leaves vivendi, you have a pretty strong rating on the stock. a lot of cash floating around. you kind of wonder from an investor's point of view where what the use of that money might be. the amount of money is returning to shareholders. the first day of inves

we thought we could take financial offices to the last mile using telecom infrastructure. and we tried the capability of the bottom of the pyramid. across the continent and the second aspect was the issue of a low percentage of the population being banked. only 5% of the market was banked. and we thought how can we do this when only 5% is included on the market. so what we did was forecast the bad years and the low income as getting financial access. financial access to the low income is essential to integrate them into economic transformation. the economic gains of the economy don't go down if they are excluded. we have to make financial services more affordable. we reduce the cost of access and remove most of the things that have to do with the condition by allowing for mass regulation. when you ask the population about the things that will give you utility then it becomes a huge bad guy for them. so in the region we went to we had new york customers and that helped kenya to have 45% of the population now having access to banking services. telecom reduced cost and two fi

c has changed some of its views on topics relating to telecom cases appearing before the f.c.c. while at the same time accepting plenty of cash from those same telecoms in fact m m t c took in just under two million in two thousand and eleven. of that one point seven million was derived from sponsorships donations and fees from companies lobbyist lawyers and religious broadcasters with interest before the f.c.c. this is according to an i.r.s. filing now back to the article according to editors at news one corporate headquarters made the decision to pull the article an important side note here news one is owned by radio one which is in a business park partnership with comcast m m t c president david hoenig admitted to following that he himself reached out to news one regarding the report claiming that no other repeatable minority rights group supports internet reclassification and pointed out that while the journalist what he wrote displayed what he called the divide and conquer tactics used for decades to undermine the civil rights movement needless to say plenty of other minori

telecom association. and then, lois greisman, associate director of the federal trade commission's director of marketing practices in the bureau of consumer protection. ms. greisman. and then, joseph campbell, the assistant director of the fbi's criminal investigative division. mr. campbell, your written statement should be very specific on the grand parent scheme and the fbi's website has more information on these type of scams compared to the statement that you have submitted. so i would like in the questioning for you to provide additional details. now, because of the fact we have god a vote coming up at 2:10, i am going to hold you to five minutes so that we can get through everybody and cannot need to questions. mr. w., you are up. turn on your microphone. >> thank you, chairman nelson and ranking member columns for the opportunity to tell my story before the special committee on aging. i am an 81-year-old grand pier from cincinnati, ohio. last december i asked answered the phone and sent my world in

telecom. u.s.telecom and our member companies share the committee's concern about the problems associated with phone-based imposter scams targeted at seniors. calls using voice over internet protocol, or the oip technology, when combined with caller id spoofing can be used by scammers to mask their identity and location, giving the target a false sense of confidence about who is calling. three important developments have occurred in the last year that could help address this issue. first, our member companies continue to work with the government and industry stakeholders to develop a more secure form of caller id authentication in order to more effectively address caller id spoofing. last summer the internet engineering task force created a formal working group focus on creating a secure caller id for voip calls. a secure telephone identity revisited group, or stick on his been working since then to achieve this goal. despite technological challenges, stakeholders within the transit believe a crypt

have to become the to a telecoms regulator and the antitrust committee. two key players have yet to be wooed, who is already on the winning side. credit suisse is the bank that is helping advise gvt over all of this. we know goldman sachs is the biggest player in m&a when it comes to advisory. goldman sachs is number one player with 23% of all m&a deals that been part of. these are the winners so far. i have to see who bids gvt. >> caroline, thank you. as they ukraine crisis enters a new day, leaders scrambled to ease tensions. will we see progress? later on the pulse, an interview with russia's foreign minister. trying to hammer out a progress at least on the situation. 11 minutes after 9:00. we will be back in two minutes. ♪ >> welcome back. you are watching "the pulse.". truce talks in berlin. at the center, one man, bladder putin. one guest said compromise will be hard to come by. joining me is a senior researcher. thank you for joining us. you seem to be on the same page as sergey lavrov. the cease-fire seems to be hard to reach. he said no progress

as for the worst, telecom stocks like at&t and verizon.s a group, they have lost a fifth of their value. telecom is also the only sector that has lost value since february of 1998. >> when it comes to individual stocks, take a look at beverage makers like keurig green mountain or monster green beverage. back then, worth pennies per share and today among the largest in america. meanwhile, citigroup and insurance stocks like aig have been the worst performers. over the next few months, some experts believe the market can continue higher if you pick the right places to invest. >> i think it's really going to be consumer discretionary, and information technology that's really going to propel this market higher towards the end of the year. more offensive sectors rather than the defensive sectors and something like utilities or telecom. >> reporter: of course, there is a large concern a stock market at record highs is ripe for a pullback. still, though, s&p 2000 is a nice way to benchmark for many investors a big moment in the stock market. for

iliad was in talks with other french telecom operators. bouyguesto buy telecom.ly, iliad sending a message to the operators today that, look, you didn't agree on my terms for the acquisition of bouygues telecom. i am moving on to something else. you could argue that it is putting a bit more pressure on orange and bouygues to reconsider what iliad's terms were. >> i think he is probably a smart guy. he probably is playing a number of chess games at one time. thank you very much indeed. watch this story. i want to bring you back to one of our breaking stories over the last few minutes. israeli officials say hamas has broken the cease-fire in gaza. it was only three hours old. let's get straight to elliott gotkine for the latest. >> yes, a rather depressing and shaky start to the cease-fire. it began some three hours 45 minutes ago. there was a siren that sounded in israel. it was after that that there were plumes of smoke coming out from within the gaza strip. hamas saying that it was had broken the cease-fire and that is what precipitated its retaliation. there ar

the german telecom giant said they would have to have $75 a share or more.idsche telekom rejected a this month for $33 a share. google is making drones to handle delivery. if the move squares google london property market has stagnated for a second month. the latest survey shows values were unchanged eco-suppliers are a reluctant to accept high asking prices. steve joins us. a look at equities markets in europe. we have a higher market. if you want to talk markets, you know where i am. ♪ >> welcome back to "on the move." i'm johnathan ferro. happy friday. 30 minutes in, this is what markets look like. dax climbing higher by 0.5%. we are set for three weeks of gains. 10:00 a.m. is the big one. eurozone inflation data expected to come in at a very small 0.3%. here are the stocks. manus cranny with three of them. >> we'll talk about the ripple effect from tesco. they had to reduce their dividend. caroline is taking you through the step by step nshtive they are taking. 98% of the normal day's volume has changed hands. you're looking at nearly 100% of a normal da

global money was the telecoms -- it actually began its mobile airtime transfers for the telecom enabledpeople to send minute, backing up, it is all prepaid because there's no credit reporting system and there's few formal addresses. so how could you oppose traditional telephone accounts. because it is prepaid, people change minutes back and forth. i say dud, here is 10 minutes for the taxi ride. it was a barter economy. people realized what an incredible idea this was an use it and use it as a classic or b. telecom realized what was happening in my $500,000 grant from the u.k. development agency decided to pilot a real banking system using cell phone and long story short, 86% of households and can you the system in a stephen caldwell $35 million a day. it is enormous. it is life-changing. it allows people to build assets. it allows people to have meaningful financial lives and what is most exciting is people are layering on more complicated financial service is like access to credit and loans in rudimentary credit reporting scheme now. i think without that come without a cell phone nowa

>> it is certainly a change from traditional telecom executives we have known.g and wearing magenta t-shirts and things like this. it is definitely a different look. it is resonating with customers. he has done a lot of things to shake up the industry. you see at&t and verizon and probably soon spreads reacting aggressively to the price moves he has made. it has frankly lowered the price of the industry. it is shaking things up quite a bit. >> what is the single biggest change? >> unfortunately, he has proved there is price elasticity in u.s. wireless. >> could hurt the profits. >> sure, and it is a scale business. you need spectrum, network utilization, network assets. these require cash flow. to the extent that you continue to have somebody chipping away the price points, the return on capital as an industry is worse than it was just a year ago. >> these guys have. -- got a lot of bond payments to make. >> if you are looking at a subscale businesslike t-mobile, sprint, to the extent they get that monthly revenue, it will drop straight to cash flow. for them it

operator, also the center of french rival greek telecom down. in june they made an offer for them and they are hoping to see greater investments in the telecom space. france's second largest space afforded us 7.8% rise in its net profit. facing a number of potential risks. firstly from russia, where it's upped the stake and rose back to 100% this past april. the bank also set aside further 200 million euros for further litigation cuts. this is among several international lenders accused of violating u.s. sanctions. and finally america's top diplomat prime minister told the country blocking a w.t.o. trade deal sends the wrong message. on thursday, through tough diplomacy and yet insistant priling provisions, the country derailed the w.t.o. agreement. the land mark agreement was expected to add $1 trillion to the economy and create 21 million jobs w that it's a wrap on this business. back to you. >> thank you so much indeed. time for a check on what's happening online. web news starts right now. >> hello, there. welcome to the web news. with our p

stomach, possibly, and there's joe clayton, possibly, charlie, dish is a satellite company, not a telecom company. >> that's why the bankers were telling me, the same bankers who told me to be quite innocent, it's hard always reporting about your own company, but they were dubious that twenty-first century fox and time warner would actually that, that merger would work for a lot of different reasons. these are the same bankers that put the odds on the sprint deal not happening and that the t-mobile/dish deal being the likelihood because of the regulatory issues. >> why is t-mobile falling on the news. i would think the market, no, it's down about 8%. and i'm wondering why? >> you got to do more than talk. you got to do. liz: they got to see a deal. >> yeah, why is time warner falling? jeff is going to report decent earnings, when he does, he's got content, which a lot of people in silicon valley. the market wants to see numbers up. this is the price you pay, and, you know, this is interesting, he's playing a game with chicken. he's got to hope someone does come in. what he did from the mi

ison a final note, claure not well-known in the telecoms world. does that work against him?is going important. outside of fixing some of the price this advantage is he has on a few plans, the next most important thing for him is to really introduce himself to parts of the industry where he is not as well-known. he has got to worry about getting connected and buildings. he has got to build a very tight partnership with other in the space. very quickly. there are very good relationships with those companies, with sprint, but they want to see marcelo. >> thank you so much can the jim patterson of the patterson advisory group and also to john butler, telecoms analyst at bloomberg intelligence. priceline profit topped estimates. big moves to expand abroad. forecasts are falling short. the pgay mcilroy won championships yesterday. many are wondering, is it move over, tiger woods and bring in rory mcilroy? ♪ >> priceline reported earnings this morning. asfit topped estimates international bookings expanded. america's biggest online travel agent has been making moves internationally

participate in tht to rea cannot participate in the global financial system so mobile money was the telecom it began as mobile air time transfers to allow people to send minutes but it is all prepaid there is no credit reporting system and very few formal addresses. so they went change minutes back and forth here is 10 minutes for that taxi ride people immediately realize what an incredible idea of this was to use it as a currency and telecom realized with a $500,000 grant decided to pilot a real banking system using cell phones. long story short 86 percent of households use this system that transacts $25 million per day is life changing allowing people to build assets to have meaningful financial lives and what is most exciting people there on more complicated services like access to credit and a rudimentary credit reporting system so with no access to finance with a situation like the united states we never would have invented mobile money. it necessity has driven innovation that is the problem those economies that have been struggling for ever. that is a great example the book is full of

doesn't make any sense crushing internet freedom in order to line the pockets of the monopolistic telecoms sister in law a man says that. if the f.c.c. ruins net neutrality all sorts of independent sites like alternative media alex and even your own blog won't be able to compete with big corporations that can afford to pay for premium service it will be a disaster i recently performed a haiku about a local poetry slam check it out now no let's not do it. three . leads to more. than just. miss my. load. of. this audience like do that seem like a bit of a mixed response but. you did you did bring up innovation all right pay to play internet would essentially crush innovation i know i will be able to get any of my business ventures off the ground you have business ventures of course what do you think i plan to do whatever this is for the rest of my life. what are your what are your business ventures ok well one is a startup that encourages people to do good deeds that sounds good it in the sense of ises people to do charity by rewarding them with sexual favor. for example help an old lady acr

the move would put pressure on the french telecom company. possibleseeking profits to make an offer for a larger state. china's government is said to have excluded several apple cannots from those that be bought with public money. this includes the ipad, the macbook row -- pro. they were put on the list because of security concerns. this comes during escalating tensions between china and the u.s. another company we are watching. standard chartered. reports another profit decline, they are under pressure after a disappointing first half. are we going to get more disappointing numbers today? >> hopefully it's not going to be any more shocking than they have already suggested. estimate is profitability is going to fall. it is going to be about the investment bank. .sbc saw their costs rising the investment bank is something we're going to keep an eye on. i look back on intelligence staff -- stats, and this is important. they saw the revenue fall. if you look at what happened in , first half asian bad debt rose by 16%. bad loans in china rose by

and georgia telecom does -- deutsche telekom is not have an exit plan. run? at all did they ever should have had a neck the claim. they want a company to run and -- i do not think they ever should have had an exit plan. they want a company to run and i think they need to do that. >> time warner reported earlier in the hour. rupert murdoch is dropping a $75 billion bid for time warner. there was no mention of the stock in the conference call. i'm sure there will be mention of the debra fox conference call this afternoon. -- of the foxx conference call this afternoon. apparently, jeff bewkes wanted at least $100 per share. the unraveling of two big and a deals, does it signal movement in the markets? and the answer -- >> o, are we the two sparrows? [laughter] >> think on it. >> this is what happens when you have four kids in four years. echo >>ou kidding me where is johnson when you need him? >> here is this response -- >> thank you. >> there is some reason for you. not matter how many transactions, but how much each is. one could be one dollar, another could b

the telecom industry has had it rough -- cisco announcing more cuts. we will hear from the cisco top lucent.or alcatel an exclusive with the ceo. chicago mayor rahm emanuel tackling the city's problems with data. we will check in. tiffany's is bringing in a new top designer to give the company a makeover and she may toss those boxes, ladies. apple might be preparing to make its biggest tablet yet -- 13 inches. sales have fallen in the last two quarters. a new funding round for snapchat at $2value the start up billion. one of the managers, kleiner perkins. christine lagarde is under investigation for negligence in france when she was the french finance minister. many around the world are astonished by that latest adult -- development. the s&p will kick off today at a new high but that is just a part of the story. rallies in brazil and japan helped push the value of global equities to its own record, $66 trillion sloshing around the global market. trillionmore than $2 in value since august 7. the markets correspondent scarlet fu has more. 1000e index fir

. >> we will talk about china telecom. news is the big announcement overnight. bloomberg exclusive. we will tell you the details next. >> welcome back. a.m. london time. let's kick it off with the euro-dollar. -- we have or less decided to go with cable. got the dollar sterling -- 165.48.65 it will be -- point 165. volatility has been dropping. will the bears win and move dollar sterling lower? let's have a look at the euro dollar -- euro sterling. during up for a much bigger move that broke a 50 day. point 7936.is said talks putin with his ukrainian counterpart were positive. he met in minsk. poroshenko said russia and other block partners have a strategy andattle the ukrainian army pro-russian levels -- rebels. a case for independence has not been made. the group set uncertainty surrounds a number of issues including currency, regulation, tax, and pension. include douglas flint. and the cooperative thanks ceo. israel and thomas have agreed to an egyptian brokered cease-fire plan to end the conflict in gaza. thousands of palestinians poured into the streets. so

bob has more than 30 years of commercial experience working in the telecom sector and is passionate about how businesses can be capitalized in communities in more countries. the united nation takes the united nations global compact board. then, we have the general manager of africa initiatives from microsoft and the general manager for microsoft africa initiatives. he has 30 years of experience in icp across four continents, having first read microsoft in 1992 and technical manager in south africa. since that time he is at many positions of the country, including chief operating officer for microsoft saudi arabia as well as director of strategic initiatives for the middle east and north africa based in istanbul, my home city. and fernando was once a race car driver. and finally, we have 79, the founder of a diversified tofu, group with diverse mint in africa, europe, north america, latin america and asia-pacific. the cochair of the african union world economic forum platform are investing in african agriculture known as pro-africa recently took over the chairmanship of the alliance for gr

deutsche telecom with a small increase in profits.news yesterday and we were all over it. we are joined by christopher nicholson. mobilenvesting in its and fixed line. how is it coping relative to its peers in europe? >> thanks for asking us to come along. we will deal with the numbers very quickly to begin with. it's always a big ask justice lightly beat the numbers. second, they confirm the outlet. .hey have customer growth and we get into it a little bit. issue behind everything they're doing is the t-mobile u.s. issue. the have been trying to sell their assets for decades and certainly over the last five years. buyers pop up and for one reason or another they are forced to back out of the ring. largely it is a regulatory issue when it comes down to it. either somebody said we haven't got enough competition, we are concerned about the impact on gdp for the country in question. maybeher issue is that there's a further antitrust issue. we don't want to have at&t hole that big a proportion of the market. you can understand the argumen

i don't know where the door to telecom follows that logic.che follows that logic. >> how does this fit into the overall story? it does not have the footprint that vodafone has in the emerging market. how does it position itself? what would you do if you were running door to telecom right now -- deutsche telekom right now? >> i think they are pursuing all the right moves. if they cannot get rid of t-mobile, which is a very extended affair, they do not have any other options themselves. we have to get through that phase. you also have to get through the regulatory phase. we have seen vivendi not achieving receipts from their sale at the end of the regulatory process this year, which limits the options vivendi has in the here and now, perhaps not after. liquidity and the access to liquidity is a very key feature of this. you saw how quickly fox was able to raise a certain sum of money. but not an infinite sum of money. there is not an infinite game out there. kind of bubble mentality in which people are fighting to do existential deals. bankersd

door to telecom controls t-mobile. we understand they want to get out of their deal.y don't have the money to do it. they may or may not have the borrowing capacity to do it. it depends on the grace of god and a couple of banks as well. t-mobile is about to announce they are not interested. door to telecom -- deutsche telekom has already said they don't want any part of this. that they have some interesting getting money from anyone that has got it, and they knew something was coming from europe, the sort of between the lines in the conversation you had. optionssaid domestically and internationally. it is clear that they are looking for sources. they could be close to $40 per share, but we don't know exactly. >> bankers are presumably working on the structure of an offer as well as the price of an offer. readingrth noting the between the lines of what he had week, last wake -- last he called these accelerants. not an offer to sell, but an accelerant. when he's referring to his capital expenditure money coming from the outside, people who will pile money into his busin

. >>> telecom stocks lead the way in europe. telecom italia higher on reports that it will launch a bid for vivendi despite counteroffers. >>> venture capital firm invests $20 million in snapchat, the messaging service with virtually no revenue. >>> good morning, everyone. it's wednesday. it's time for a brand new edition of "worldwide exchange." it's one hour into the trading session. we are a little softer here across the european markets. the stoxx 600 is off by 0.1%. we had a fantastic rally over the last 2 1/2 weeks specifically monday and tuesday on the back of hints of more qe coming from the ecb. one by one, i want to show you where the softness is coming from. germany, down 0. 25%. german morale fell for the first time in 123456 years. why is that? because of russia and ukraine. the ftse 100 is pretty much flat. the ftse mib is still down by 0.2%. the ftse markets, dollar close to a 13-month high on the back of durable goods and consumer confidence data yesterday. 1.3184 off those one-year lows that we saw earlier on th

internet network the culmination of a partnership between the town and state governments a local telecom company called g w i n a nearby college rock ports network is the first of its kind in the pine trees state it's also a great deal for customers as the portland press herald reports at about sixty nine dollars a month for one hundred megabits per second of upload download speed rockport service outpaces time warner cable its fastest ever ties services fifty megabits per second for downloads and five megabits per second for up work as of now rock port's fiber optic network is only available to around seventy businesses and households however its supporters like maine senator angus king expected to grow rapidly over the next few years and believe it will be a positive example in the state that ranks literally next to last in overall internet access in today's economy internet access should not be considered a luxury it should be a right which is exactly why cities like chattanooga tennessee and lafayette louisiana have done the same thing as rockport maine and set up their own city run

>> no, the telecom is all about debt. the question is the borrowing capacity.are giving away money for free now -- the banks are giving away money for free now. deutsche telekom has shown a desire to unload their stake. maybe iliad could take some of that off their hands while they sit through the regulatory process of a sprint-t-mobile acquisition. they could lighten their load. that could still happen. >> you wonder if maybe dish comes back into the picture. dish tried to buy sprint. the offer was seen as preposterous and did not go through. potentially dish's strategy has been to wait and hold back, wait for regulators to block a sprint-t-mobile merger and come over the top and try to buy t-mobile. thatere is a rival bidder says we don't have a regular toy problem, maybe dish -- regulatory problem, maybe dish is forced to put their cards on the table earlier. whfor the guppies, it is seasonale. that is a function of the low interest-rate environment. the ceo of iliad sounds kind of crazy. did they hook this up together? adultrred in the pornography industry?